Janus Henderson Small Cap Value L JSIVX

Janus Henderson Small Cap Value will reopen most share classes to new investors effective April 17, 2023. The reopening comes after the strategy’s asset base declined from a recent peak of nearly $4 billion at year-end 2021 to roughly $2.7 billion currently, owing to depreciation and modest outflows. The strategy remains one of the largest in the small-value Morningstar Category, so capacity will be worth monitoring closely. That said, the team running it has a history of prudent capacity management; the strategy closed to new investors in early 2020, when assets approached $4 billion. The strategy retains its Above Average People and Process ratings as well as Morningstar Analyst Ratings of Silver or Bronze, depending on share class fees.